Wednesday April 1, 2020

Nama offers deals to stop developers seeking bankruptcy abroad

Agency is exploring ways to combat debtor fatigue'

20th July, 2014

Nama, the state’s toxic loans agency, is preparing to offer financial incentives to property developers as part of a radical move to stop its debtors declaring bankruptcy in Britain.

Faced with a steep increase in the number of developers seeking a fast-track British bankruptcy, the agency has briefed the Department of Finance that it is exploring ways to “combat” what it describes as “debtor fatigue”.

The potential inducements include...

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